Insurance Brokers in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Essential resource for top-line data and analysis covering the United Kingdom insurance brokers market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
The insurance brokers sector is valued in relation to the total brokerage revenue of non-life insurance and reinsurance brokerage firms. All currency conversions have been carried out at constant annual average 2016 exchange rates.
The UK insurance brokers sector had total revenues of $2,660.9m in 2016, representing a compound annual growth rate (CAGR) of 1.3% between 2012 and 2016.
The primary insurance segment was the sector's most lucrative in 2016, with total revenues of $2,158.0m, equivalent to 81.1% of the sector's overall value. The reinsurance segment contributed revenues of $502.9m in 2016, equating to 18.9% of the sector's aggregate value.
The saturation of demand for non-life insurance products in recent years has been the main reason for the weak growth of the UK insurance brokers sector. Additionally, the continuing rise of insurance premium tax rates has also prevented the growth acceleration of the sector, as well as the increasing regulatory costs especially for smaller brokers.
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What was the size of the United Kingdom insurance brokers market by value in 2016?
What will be the size of the United Kingdom insurance brokers market in 2021?
What factors are affecting the strength of competition in the United Kingdom insurance brokers market?
How has the market performed over the last five years?
What are the main segments that make up the United Kingdom's insurance brokers market?